Unit 4 - Marketing
Unit 4 - Marketing
Effective marketing is core to the success of all business organizations. Unit 4 of the IB Business Management syllabus examines a range of marketing tools, theories, and techniques.
Marketing is far more than just about advertising or promotion, or even the traditional 4 Ps of marketing: product, price, promotion and place. The 7Ps of the marketing mix feature in the syllabus for both SL and HL candidates.
In line with the syllabus, students should also be able to discuss the Marketing topics through the key concepts of change, ethics, sustainability, and creativity.
Marketing and conceptual understandings (from the guide):
- Social, cultural, and technological change can impact the language and medium of marketing
- Creative ways of informing stakeholders can lead to positive business outcomes
- Ethical marketing practices can enhance a business’ brand image
- Sustainable marketing practices can be effective for business success
Did you know that World Marketing Day is on 27th May?
This annual event, established in 2023, is in honour of Professor Philip Kotler (b. 27th May 1931), who is often considered as the “father of modern marketing”. There are plenty of opportunities to celebrate World Marketing Day, with ideas and resources on InThinking. There are additional suggestions here on Days of the Year.
The recommended teaching hours from the IB for Unit 4 of the Business Management syllabus are as follows:
- SL = 30 hours
- HL = 35 hours
Teachers and students can download a revision poster for Unit 4 by clicking on the icon below. Many thanks to Saif Nidal Attieh and his students from the Class of 2027 at Modern Montessori School, Amman, in Jordan, for creating and sharing this with the InThinking Business Management community!
The IB Business Management syllabus content for Unit 4 is outlined below. There are six topics in Unit 4: Marketing.
Unit 4.1 - Introduction to marketing
Unit 4.1 - Introduction to marketing
This section of the syllabus covers the following assessment objectives:
- Market orientation versus product orientation (AO2)
- Market share (AO2, AO4)
- Market growth (AO2, AO4)
- The importance of market share and market leadership (HL only) (AO3)
This section of the syllabus covers the following assessment objectives:
- The role of marketing planning (AO2)
- Segmentation, targeting (target market) and positioning (position maps) (AO2, AO4)
- The difference between niche market and mass market (AO2)
- The importance of having a unique selling point/proposition (USP) (AO2)
- How organizations can differentiate themselves and their products from competitors (AO3)
Unit 4.3 - Sales forecasting (HL Only)
This section of the syllabus covers the following single assessment objective:
- The benefits and limitations of sales forecasting (AO3) (HL only)
Unit 4.4 - Market research
This section of the syllabus covers the following assessment objective:
- Why and how organizations carry out market research (AO3)
- The following methods/techniques of primary market research (AO2): (i) Surveys, (ii) Interviews, (iii) Focus groups, and (iv) Observations
- The following methods/techniques of secondary market research (AO2): (i) Market analyses, (ii) Academic journals, (iii) Government publications, (iv) Media articles, and (v) Online content
- The difference between qualitative and quantitative research (AO2)
- The following methods of sampling (AO2): (i) Quota, (ii) Random, and (iii) Convenience
Unit 4.5 - The seven Ps of the marketing mix
Unit 4.5 - The seven Ps of the marketing mix
This section of the IB Business Management syllabus consists of 7 separate parts, each covering an aspect of the marketing mix (product, price, promotion, place, people, processes, and physical environment). This section of the syllabus covers the following assessment objectives:
4.5.1 Product
- The relationship between the product life cycle, product portfolio and the marketing mix (AO2)
- Extension strategies (AO3)
- The relationship between the product life cycle, investment, profit and cash flow (AO2)
- The following aspects of branding (AO2): (i) Awareness, (ii) Development, (iii) Loyalty, and (iv) Value
- The importance of branding (AO2)
4.5.2 Price
(1) Cost-plus (mark-up) pricing
(2) Penetration pricing
(3) Loss leader
(4) Predatory pricing
(5) Premium pricing
(6) Dynamic pricing (HL only)
(7) Competitive pricing (HL only)
(8) Contribution pricing (HL only)
(9) Price elasticity of demand (HL only)
4.5.3 Promotion
(1) Above the line (ATL) promotion (AO2)
(2) Below the line (BTL) promotion (AO2)
(3) Through the line (TTL) promotion (AO2)
4.5.4 Place
4.5.5 People
4.5.6 Processes
4.5.7 Physical evidence
Appropriate marketing mixes
Unit 4.6 - International marketing (HL only)
This section of the syllabus covers the following single assessment objective:
